Cubist Systematic Strategies LLC Takes $567,000 Position in Ero Copper Corp. (NYSE:ERO)

Cubist Systematic Strategies LLC acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,088 shares of the company's stock, valued at approximately $567,000.

Several other hedge funds have also made changes to their positions in ERO. Jennison Associates LLC boosted its holdings in Ero Copper by 3.5% during the fourth quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock valued at $79,645,000 after purchasing an additional 198,800 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Ero Copper by 22.6% in the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock valued at $52,450,000 after purchasing an additional 715,999 shares in the last quarter. 683 Capital Management LLC grew its holdings in shares of Ero Copper by 20.4% in the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock worth $33,272,000 after purchasing an additional 418,367 shares during the last quarter. Boston Partners lifted its holdings in Ero Copper by 66.9% during the 4th quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after purchasing an additional 441,413 shares during the last quarter. Finally, Bridgewater Associates LP boosted its position in Ero Copper by 400.2% in the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock valued at $11,026,000 after buying an additional 654,684 shares in the last quarter. Institutional investors own 71.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ERO shares. TD Securities reiterated a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. BMO Capital Markets started coverage on Ero Copper in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James reaffirmed an "outperform" rating on shares of Ero Copper in a report on Friday, April 4th. StockNews.com upgraded Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, National Bankshares upgraded Ero Copper from a "sector perform" rating to an "outperform" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $26.33.

Ero Copper Stock Up 0.6%

Ero Copper stock traded up $0.08 during midday trading on Wednesday, reaching $13.58. The stock had a trading volume of 55,494 shares, compared to its average volume of 396,217. The company has a fifty day moving average price of $12.28 and a two-hundred day moving average price of $13.48. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $24.13. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.41 billion, a P/E ratio of 80.20 and a beta of 1.10.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.18. The company had revenue of $125.10 million for the quarter, compared to analysts' expectations of $179.45 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. As a group, equities analysts expect that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.